Member fee unchanged for fourth year in a row

Council has approved a budget for 2008 that maintains the annual fee at $104 for the fourth year in a row.

At its October meeting, Council approved operating expenses of $29.519 million, operating revenues of $28.03 million and capital and deferred charges of $1.098 million. The budget forecasts a deficit of $1.489 million, which will be covered by the reserve for fee stabilization established in 2004. As of December 31, 2006, this reserve stood at $3.422 million.

Membership in the College continues to grow. Just over 6,000 members are choosing not to renew each year for reasons of retirement or change of occupation, while the College is licensing more than 12,000 new members annually. The College estimates that membership will reach 218,500 in 2008.

While the annual membership fee is the College’s main source of revenue, fees from some member and applicant services, accreditation, special projects, investment interest and advertising in Professionally Speaking account for approximately $2.8 million of the College’s total revenues.

Many budget lines remain at 2007 levels or have been reduced. Budget increases are primarily in services to members and applicants, and in professional practice.

The budget for professional practice has been increased to support the development of 59 new Additional Qualification course guidelines and to implement other changes to teachers’ qualification guidelines and regulations. About $90,000 has been set aside for support and honorariums to subject associations, who will be recruited to draft course guidelines in their areas of expertise.